Sept 19 (Reuters) - Origin Energy Ltd (ORG) :
- ORIGIN TO DIVEST BEETALOO BASIN INTERESTS
- ORIGIN TO DIVEST BEETALOO BASIN INTERESTS
- WILL DIVEST 100 PER CENT OF ITS INTEREST IN BEETALOO BASIN
- DIVESTMENT AS THE CO FOCUSES ON ITS STRATEGY AND AMBITION TO LEAD THE ENERGY TRANSITION
- DEAL FOR UPFRONT CONSIDERATION OF A$60 MILLION
- AGREEMENTS EXECUTED WITH TAMBORAN (B1) PTY TO DIVEST ORIGIN'S INTEREST IN NORTHERN TERRITORY'S BEETALOO BASIN
- HAS ALSO EXECUTED A GAS SALE AGREEMENT FOR OFFTAKE OF FUTURE GAS PRODUCTION FROM BEETALOO BASIN
- WILL UNDERTAKE A STRATEGIC REVIEW OF ALL REMAINING EXPLORATION PERMITS (EXCLUDING ITS INTERESTS IN AUSTRALIA PACIFIC LNG)
- DIVESTMENT OF BEETALOO INTERESTS WILL HAVE NO IMPACT ON OTHER ASPECTS OF CO'S INTEGRATED GAS BUSINESS
- ORIGIN EXPECTS TO RECORD A NON-CASH POST-TAX LOSS OF A$70 - A$90 MILLION IN RELATION TO TRANSACTION
- UNDER TERMS WITH TAMBORAN (B1), ORIGIN WILL FULLY DIVEST ENTITY WHICH HOLDS ITS 77.5% INTEREST IN BEETALOO BASIN JV
- HAS EXECUTED A GAS SALES AGREEMENT FOR UP TO 36.5 PJ PER ANNUM OVER 10 YEARS
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$12.48 |
Change
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Mkt cap ! $21.52B | |||
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